Question

    An amount of ₹10000 is invested in two parts at 8% and 6% per annum simple interest. If the total interest earned after 3 years is ₹2070, determine the sum invested at each rate.

    A 2000 Correct Answer Incorrect Answer
    B 6500 Correct Answer Incorrect Answer
    C 5500 Correct Answer Incorrect Answer
    D 7800 Correct Answer Incorrect Answer

    Solution

    ATQ, Let ₹x be invested at 8%, then ₹(10,000 – x) at 6%.  Total interest = x × 8% × 3 + (10,000 - x) × 6% × 3 = 2070  0.24x + 0.18(10,000 - x) = 2070  0.24x + 1800 – 0.18x = 2070  0.06x = 270 x = ₹4500 10,000 – x = 5500

    Practice Next